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Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
 Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed their upward trend since August 20th.
Brent futures have been trading higher over the past couple of weeks, with hurricane Ida idling US Gulf oil production and providing support. In addition, traders saw a buying opportunity following the OSP price cuts into Asian refineries. Positive news on Covid developments and also Chinese data suggesting crude oil inventories stand at the lowest level since June 2020 are also interpreted as bullish for oil consumption and economic momentum ahead.
Numerous countries in Asia Pacific are easing certain Covid-19 restrictions, such as Thailand, New Zealand and Hong Kong, while the South African variant slowed in August according to scientists, all supporting oil demand expectations. Generally, Europe has emerged as a “center of strength” for road fuels demand as the economies opened during the summer period, where people have naturally used more road transportation vs air during the travel season. Nevertheless, according to real time traffic data, European road fuels demand dropped by around 5% or 3-400,000 bpd m/m in August that had a slow start, from the recent peak in July. However, recent news are positive for Brent as European traffic has been picking up by two percent over the past two weeks. Overall, global road traffic congestion levels continue to pick up over the past two weeks, a trend that has emerged since mid-August. Robust gasoline demand and low inventories in both sides of the Atlantic Ocean also lend support to light-sweet crude benchmarks such as Brent.
Additionally, we have noted that the Chinese crude imports rose to a five-month high of 10.5 million bpd in August, driven by state backed oil refineries. The question is whether this trend in China’s crude imports will remain upwards in the coming months. That is a difficult question to answer, as it also depends on government policies on quotas and use of strategic reserves, as per analysts’ consensus.
The Asian market seems to have the potential for an increase in crude oil imports from Middle East as OPEC+ releases production, while US crude oil production is lagging behind along with refinery activity after the recent hit of Hurricane Ida. The hurricane Nicholas following this week is yet to show its effect, but overall it looks like the oil supply tightness in the West is exacerbating, which increases the call on OPEC+ to satisfy rising crude oil demand projected through the 4th quarter of the year.
By Apostolos Rompopoulos,
Tanker Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
According to current polling the Republican Party has ...
Thursday, 14 July 22
INDIA'S COAL IMPORTS HIT RECORD HIGH IN JUNE - REUTERS
India's coal imports hit a record high in June despite high global prices, data from three trade sources and Refinitiv ship tracking showed, as ...
Thursday, 14 July 22
CHINA'S JUNE COAL IMPORTS SLUMP AS TRADERS SHUN EXPENSIVE OVERSEAS CARGOES - REUTERS
China’s coal imports fell 33% in June from a year ago, with traders turning down expensive overseas cargoes in favor of domestic ones with ca ...
Wednesday, 13 July 22
KOWEPO TO IMPORT 2.79 MILLION TONS OF LOW TO MEDIUM COAL
COALspot.com: Korea Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1360k MT of Min.4400 kcal/kg NCV coal and Total 1 ...
Wednesday, 13 July 22
HAVE MINERS MISSED THE BOAT TO INVEST AND GET AHEAD OF THE ENERGY TRANSITION? - WOOD MACKENZIE
Miners are in rude health, benefiting from economic stimuli, the post-pandemic recovery and associated supply constraints. Initially the Ukraine wa ...
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- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
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